Saudi Arabia Held a Middle East De-Dollarization Conference
The butterfly effect is intensifying! Saudi Arabia held a Middle East de-dollarization conference!
Deepin Moments: 11-24-2022
Just when Wall Street is still reveling in the momentum of the dollar index rise, the sound of de-dollarization or bypassing the dollar transactions around the world has been rising, the dollar has once again lost the trusted label
It is clear that the United States due to stimulate the economy to implement extremely loose monetary policy led to big inflation, and then had to aggressive interest rate hikes and tapering, these only for the needs of their own economies, without taking into account the currency spillover effect when the dollar will be overdrawn Credit and status, forcing the world to think about the role of the dollar, is at this juncture, the nearest institutions to the dollar printing machine also issued a warning.
We note that economists from the World Gold Council and IMF to Goldman Sachs to JP Morgan and the New York Fed are now increasingly concerned that the long-term challenge for the U.S. will be to maintain the dollar's crown as the world's leading reserve currency, but that its power and position are waning as the world economy moves toward multipolarity.